Steel Firm Seeks Tax Refund From IRS Over Captive Reinsurance Disallowance

( July 10, 2025, 8:15 AM EDT) -- TULSA, Okla. — The owners of a steel building manufacturer in a complaint filed in a federal court in Oklahoma seeking to recover a federal income tax for a payment they allege was erroneously assessed and collected for the 2018 tax year, claiming that the Internal Revenue Service improperly disallowed a legitimate business expense related to a captive reinsurance arrangement facilitated through a third-party insurance provider....